Business continuity planning for innovation

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A retail business in Cape Town was recently forced to close when a fire damaged part of the building in which their outlet is situated. The staff were only able to access the building for about two hours a day to fulfill orders. The shop reopened after about six weeks.

If this company had a business continuity plan in place, it could have got the business up and running faster — with less revenue loss.

Business continuity planning includes a risk assessment and a business impact analysis. Often when analysing risks, brainstorming is involved in coming up with solutions to potential disruptive incidents. These solutions can have a positive impact for companies large and small.

During the lockdown many businesses were pressurised to come up with innovative solutions to get their businesses running again. Coffee shops, for instance, took to the streets with mobile coffee take-away vans. Some retail outlets went 100% online. Many training businesses rolled out online courses.

The best time to begin your business continuity plan is now. Get your key staff together, identify risks, prioritize them and do a business impact analysis for your highest risk areas.

You could be delightfully surprised how the business continuity planning process can lead to unexpected business innovation.

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